In today’s briefing:
- Ramsay’s Overdue Update on the KKR Proposal
- STOXX Europe Quiddity Leaderboard Sep 2022: 11 ADDs/DELs, Sandvik-Alleima, and More
- Helixmith (084990 KS): Overhang on Phase 3 Clinical Trial Uncertainty Got Removed
- Imugene (IMU AU): Clinical Trial Continued to Advance; Cash Position Still Strong
- Abbott Laboratories: Capacity Expansion For Diabetes Care & Other Drivers
Ramsay’s Overdue Update on the KKR Proposal
- Ramsay Health Care (RHC AU) notes that discussions with KKR are ongoing, but the indicative proposal is held up by due diligence access to Ramsay Generale de Sante (GDS FP).
- KKR proposed an alternative proposal that the Board rejected as “meaningfully inferior.” KKR remains interested, and its shenanigans are likely a move to nudge down the price.
- At the last close, the risk/reward profile is favourable as the downside due to a deal break (-3% estimated decline) is lower than the upside (+20%) to the indicative proposal.
STOXX Europe Quiddity Leaderboard Sep 2022: 11 ADDs/DELs, Sandvik-Alleima, and More
- In this insight, we take a look at the names leading the race to become ADDs/DELs for the STOXX Europe 600 and EURO STOXX Indices for the September 2022 Rebalance.
- Based on current rankings, there could be around 11 ADDs/DELs in the September 2022 Rebalance.
- The completion of the Avast PLC (AVST LN) and Meggitt PLC (MGGT LN) deals could result in intra-review changes in September 2022.
Helixmith (084990 KS): Overhang on Phase 3 Clinical Trial Uncertainty Got Removed
- Helixmith (084990 KS) shares have been sliding since end of June due to delay in receiving the recommendation from the U.S. data monitoring committee for its phase 3 clinical trial.
- On August 18, Helixmith received recommendation to continue phase 3 clinical trial of its lead candidate Engensis (VM202) for diabetic peripheral neuropathy, thereby removing the overhang.
- Engensis has attracted high interest from investors, as it is targeting a large addressable patient population of nearly 8.5 million in the U.S. alone, with high unmet medical need.
Imugene (IMU AU): Clinical Trial Continued to Advance; Cash Position Still Strong
- Imugene Ltd (IMU AU) has recently dosed the first patient in cohort 3 in the phase 1 clinical trial of oncolytic virotherapy candidate, CHECKvacc for breast cancer.
- As at June 30, 2022, Imugene had cash balance of A$99.9 million, providing a runway to support its clinical pipeline and operations into 2025.
- As the clinical trials progressing, the company has appointed an experienced life sciences CFO.
Abbott Laboratories: Capacity Expansion For Diabetes Care & Other Drivers
- Abbott Laboratories had a strong financial performance in the recent quarter led by the development of medical, diagnostics, and pharmaceutical devices.
- During this quarter, the company is continuing to strengthen its Medical Device portfolio with new innovative products.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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